Asarco LLC’s bankruptcy has been the gift that keeps giving for Baker Botts. The firm and its cocounsel raked in about $120 million in fees from the complex case, plus an enhancement of $4.2 million for doing work that a judge called “nothing short of extraordinary.” Now Baker Botts will have a chance to argue at the U.S. Supreme Court that it’s entitled to millions more in fees incurred successfully defending its bounty.
The Supreme Court agreed on Thursday to hear arguments by Baker Botts and cocounsel Jordan, Hyden, Womble, Culbreth & Holzer that they were improperly denied $5.2 million for time spent deflecting attacks on their $120 million fee application. Lower courts, the firms argued in their petition, are split over whether bankruptcy judges can compensate law firms for successfully defending fee applications.
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